Deere & Company (NYSE:DE) Shares Acquired by ERn Financial LLC

ERn Financial LLC grew its position in Deere & Company (NYSE:DE) by 1.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,725 shares of the industrial products company’s stock after acquiring an additional 41 shares during the period. ERn Financial LLC’s holdings in Deere & Company were worth $1,530,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DE. Morgan Stanley raised its stake in shares of Deere & Company by 1.3% in the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after acquiring an additional 65,006 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares during the last quarter. Norges Bank acquired a new position in shares of Deere & Company in the 4th quarter valued at $1,248,036,000. Dimensional Fund Advisors LP grew its stake in Deere & Company by 11.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after buying an additional 160,369 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Deere & Company by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock worth $628,105,000 after acquiring an additional 31,074 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.1 %

Shares of DE stock traded up $0.54 during trading hours on Thursday, reaching $376.79. The company had a trading volume of 1,677,744 shares, compared to its average volume of 1,476,744. The business has a fifty day simple moving average of $386.34 and a 200-day simple moving average of $387.01. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00. The company has a market cap of $103.83 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the prior year, the company posted $9.65 earnings per share. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.56%. Deere & Company’s dividend payout ratio is presently 17.70%.

Analysts Set New Price Targets

Several research firms recently issued reports on DE. Citigroup initiated coverage on Deere & Company in a research report on Wednesday. They set a “neutral” rating and a $395.00 price target on the stock. Daiwa Capital Markets increased their price target on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. DA Davidson cut their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. Finally, Oppenheimer reissued an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $431.14.

Insider Activity at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.